Transition VC launches ₹1,500cr 2nd fund backing 20 engineering startups
Transition VC just launched its second fund, aiming to raise ₹1,500 crore to back about 20 engineering-focused startups, with the four-year deployment period beginning in Q3 FY27.
This comes after their first fund outperformed expectations, closing at ₹723 crore and delivering a 57% IRR (annualized return) in just three years.
Transition VC targets 'missing middle' startups
This time, Transition VC isn't just sticking to energy transition: they're branching out into adjacent sectors such as advanced manufacturing and selectively evaluating emerging opportunities like geothermal and nuclear energy.
The focus is on supporting "missing middle" startups: teams that have proven their tech works but haven't scaled yet.
With more investors showing interest, especially from global institutions and family offices, it looks like India's deep-tech scene is getting a serious boost.